Norwegian Public Takeover Deal Study 2024 edition

We are pleased to present BAHR’s annual Norwegian Public Takeover Deal Study, a comprehensive analysis of the public takeover landscape in Norway for 2023. This edition provides an in-depth analysis of the public takeover landscape in Norway both on the Main Market Oslo Børs and Euronext Growth. In 2023 we generally saw considerable activity in the shipping, energy, and oil-service sectors, the trend of private placements over rights offerings continued, and a historic low number of IPOs. Against this backdrop, the public takeover market was very active and we had the largest public takeover in Norway to date (where BAHR advised the target, Adevinta). We have seen a significant increase in the use of rollover mechanisms in takeover deals, a trend that has been facilitated by the current regulatory framework. In 2023, rollover structures were featured in one-third of all takeovers on Oslo Børs, and were even more prevalent on the Euronext Growth platform, where they featured in more than 70% of the offers.